Asia Markets: Asian markets largely quiet ahead of Lunar New Year holiday

Asia-Pacific stocks were mixed early Wednesday following slight gains in the U.S. overnight.

Indexes in the region, excluding those in New Zealand and South Korea, were within 0.3% of Tuesday’s finishes. The Kospi SEU, +1.06%   rose nearly 1% as Samsung Electronics rebounded 005930, +3.16%   2.7%. That put the week’s gain at 9%, which erased most of the month’s decline.

New Zealand’s NZX 50 NZ50GR, -0.59%   fell 0.5% as Fletcher Building FBU, -10.81%   slumped 12% to a two-year low after it revealed additional losses at its building-and-interiors division. The company’s shares were halted for nearly a week after Fletcher said Thursday it expected more red ink for the segment.

The S&P 500’s trading range on Tuesday, which was within the levels that the index moved on Monday, indicates “overall caution” among investors, said Ric Spooner, chief market strategist at CMC Markets.

Japanese stocks were lower early Wednesday. The Nikkei NIK, -0.22%   was recently down 0.3% as the U.S. dollar JPYUSD, +0.290222%   was around ¥107.70, versus ¥108.30 at the end of stock trading Tuesday.

Ahead of the open, Japan said its fourth-quarter economic growth was less than analysts expected. But the economy has grown for eight straight quarters, the longest run in 28 years.

“GDP growth slowed sharply last quarter and we think that the economy won’t expand as strongly this year as it did in 2017,” said Marcel Thieliant at Capital Economics.

Trading in the region will slow as the Lunar New Year holiday approaches. Taiwan’s stock market closed yesterday and China will join it Thursday. Others in Asia will only see a half-day of trading on Thursday before being shut Friday.

U.S. consumer inflation data is due to be released later Wednesday.

Filed in: Top News Tags: 

You might like:

Vitaliy Katsenelson's Contrarian Edge: Investors have misdiagnosed Amazon’s push into the pharmacy business Vitaliy Katsenelson's Contrarian Edge: Investors have misdiagnosed Amazon’s push into the pharmacy business
London Markets: London markets higher, buoyed by materials stocks, trade optimism London Markets: London markets higher, buoyed by materials stocks, trade optimism
Next Avenue: Consider this investment strategy to generate income in retirement Next Avenue: Consider this investment strategy to generate income in retirement
NerdWallet: How to retire in your 30s or 40s—even if you have kids NerdWallet: How to retire in your 30s or 40s—even if you have kids
FA Center: Find financial advisers who can give your portfolio a personal touch FA Center: Find financial advisers who can give your portfolio a personal touch
Catholics skip the collection plate amid ‘moral catastrophe’ of Pennsylvania’s sex abuse cover-up Catholics skip the collection plate amid ‘moral catastrophe’ of Pennsylvania’s sex abuse cover-up
Outside the Box: How a CEO’s personal habits can cost you money Outside the Box: How a CEO’s personal habits can cost you money
Grow: How to handle a financial emergency, even if you’re living hand to mouth Grow: How to handle a financial emergency, even if you’re living hand to mouth

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.